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SINGAPORE/DUBAI (Reuters) - Iraq has informed its customers that it plans to change its price benchmark for Basra crude in Asia to DME Oman futures from January, the country's latest move to reform its oil sales.

The proposed change by state-oil marketer SOMO would mark a major shift by OPEC's second-largest producer away from fellow members Saudi Arabia, Kuwait and Iran, which have been using price assessments from global agency S&P Global Platts as their benchmark for decades.

It throws down the gauntlet on setting prices for more than 12 million barrels per day of Middle East crude in Asia, challenging the role of the world's top exporter Saudi Arabia.

"In an effort to realize the intrinsic value of our crude exports to Asia as to be in alignment with the recent market perception, we are contemplating a change of the current pricing formula for the Asian market," SOMO said in a letter dated Aug. 20 and sent to its customers, according to a copy seen by Reuters on Monday.

It asked customers for opinions on the plan by Aug. 31.

SOMO and the Dubai Mercantile Exchange (DME) did not immediately respond to Reuters requests for comment.

Iraq has been reforming its oil sector - including launching crude sales through auctions on DME to achieve higher prices and setting up trading and shipping joint ventures - in what is seen as a drive to gain influence and bring in more revenue as the country seeks to rebuild its economy.

"DME has shown good practice and better transparency than Platts, they also have an auction system," one source familiar with the matter said.

The move also appears to reflect SOMO's aim to lead a change in crude pricing rather than following Saudi Arabia, OPEC's biggest producer whose crude official selling prices (OSPs) set the trend for other major Middle East producers.

Iraqi crude grades are not used in any of the Middle East price benchmarks. Platts assesses its Dubai price based on deliveries of Dubai, Oman, Abu Dhabi's Upper Zakum and Qatari Al-Shaheen crude.

"The Iraqis probably want to get in on the game of being a benchmark grade," a Singapore-based oil trader said.

SOMO has proposed pricing crude loading in the current month using DME Oman prices from two months previously, according to SOMO's letter to its customers.

"Such a mechanism is intended to reflect the real value of Iraqi crude oil based on the trading month in the Asia market," SOMO said in the letter.

The change in the benchmark will affect the pricing of about 2 million barrels per day of crude that are shipped to Asia, or close to two-thirds of Iraqi crude exports from the southern port of Basra, the outlet for most of the country's crude.

"Lately they (the Iraqis) have managed to achieve good premiums via the DME action, so there is some added value," said an industry source at a Middle East producer.

Since April, Iraq has sold 1-2 cargoes of Basra crude per month through an auction platform on the DME as a test for future Iraqi oil sales.

The Oman crude futures, launched in 2007 by the DME, is the only liquid futures contract for Middle East crude in Asia.

SOMO is not expected to change the way it prices its oil for Europe and the United States, said one of the sources. It prices its European exports against dated Brent, and uses Argus Sour Crude Index (ASCI) as the benchmark for its U.S. oil sales.

Reporting by Florence Tan in Singapore and Rania El Gamal in Dubai; Editing by Richard Pullin and Susan Fenton

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Iraq plans to shift Basra crude price benchmark for Asia from January - Reuters

WNYC

These Teens Hanging Out Are From Syria, Iraq...and New Jersey WNYC A group of American teenagers from the Maplewood and South Orange suburbs of North Jersey spent the summer hanging out with newly resettled refugee teenagers from Syria and Iraq, now living in the area around urban Elizabeth, NJ. "It was nearly ...

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These Teens Hanging Out Are From Syria, Iraq...and New Jersey - WNYC

A FORMER Royal Marine who served in the 2003 Iraq War is selling his war medals to help fund a four-year-olds 200,000 cancer treatment.

Veteran Matthew Goodman, 35, read about little Lottie Woods-Johns battle with neuroblastoma and decided to step in and help the family.

HotSpot Media/Harvey Hook

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Despite never meeting Lottie, the married father-of-one, from Cheltenham, Gloucestershire, felt touched by her fight and listed his three service medals on eBay.

Matthew, a duty manager at a leisure centre, said: When I came across Lotties campaign, I was heartbroken to read her battle against childhood cancer.

Her prognosis means she has 85 per cent chance of relapse.

As a father myself, I couldnt imagine seeing my baby daughter, Freya, suffering like that and I knew I had to help in some way.

My medals were just sitting in the drawer doing nothing, and I thought they could be used for something worthwhile.

They were awarded for the sacrifices I made, but Im happy to forgo that honour if it means helping a little girl in desperate need.

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Matthew, who served in the Royal Marines for five years, hopes to fetch the maximum amount for his medals to contribute towards Lotties fund for further treatment in the US.

In June 2016, Lotties parents, Charlotte Woods, 36 and David John, 44, an events manager, received the crushing news that their little girl had cancer.

Initially they thought their daughter was suffering from a tummy bug after persistent vomiting.

But when her stomach started to swell, Lottie was rushed to A&E at St Peters Hospital in Chertsey, Surrey.

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Sadly, doctors discovered a melon-sized tumour in her stomach and she was diagnosed with rare childhood cancer: neuroblastoma.

Less than 100 children in the UK are diagnosed each year, with most sufferers aged under five years old.

It recently claimed the life of Bradley Lowerywhomelted hearts during his five-year battle with the rare cancer.

Lotties parents were told their daughter had aggressive stage 4 cancer which had spread to her bones and bone marrow.

The youngster immediately underwent chemotherapy and, in October last year, had a 13-hour operation to remove 95 per cent of the 12cm tumour.

Now the tot is undergoing immunotherapy to zap the rest of the cancerous cells in her body, but desperately needs an innovative vaccine treatment available in America.

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Charlotte, Lotties full time carer, who lives in Addlestone, Surrey, said: Lottie has been given 20 per cent chance of surviving the next five years and theres an 85 per cent chance of the cancer returning.

At the moment Lotties health is up and down. One minute shell be happily playing in the garden and the next, her temperature will spike and shell be rushed to hospital in an ambulance.

We are living day to day and dont know what the future holds.

The vaccine treatment prevents the cancer from returning, so Lottie needs the cutting-edge treatment straight away, meaning we need the 200,000 imminently.

HotSpot Media

Charlotte, who has two other children, Georgia, 18 and Jack, 16, added: When Matt contacted me to tell me he wanted to sell his medals to help towards treatment costs I was speechless.

He risked his life for those medals and the fact that hes not even met Lottie, but wants to help keep her alive is mind-blowing.

I cant thank him enough.

Matthew, who served in Afghanistan, Iraq and Northern Ireland, said: Raising that amount of money is a monumental task.

If people stand up and support families like Lotties then it makes all the difference.

I hope to set a really nice example to my daughter when she grows up.

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To show her how to be compassionate and make sacrifices for others.

Once theyre sold, in the place of my medals Ill be wearing a childhood cancer awareness ribbon.

For me, nothing is worth a childs life.

To help the family please donate here.

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Ex-Royal Marine and Iraq war hero is selling his medals to pay for four-year-old tot's 200k treatment for rare cancer - The Sun

Each year the Nebraska State Fair honors veterans from throughout the state, thanking them for their service to the country.

This year, Chris Marcello of Grand Island will serve as grand marshal for the parade on Sept. 4, a day set aside as the State Fairs Salute to Our Veterans Celebration.

Marcello will be a guest of the State Fair that day. Along with leading the parade, there will be a reception in his honor. The parade is scheduled to begin at 4 p.m.

I know quite a few people who work at the Veterans Administration and they nominated me for this honor, Marcello said.

Marcello joined the Nebraska National Guard on March 5, 1997. He was deployed to Bosnia (SFOR13, stabilization or security force) in 2003, then to Ar-Ramadi (or Ramadi), Iraq, in 2005-2006.

He was also part of mobilized hurricane relief for hurricanes Gustav and Ike. He was later deployed to Kabul, Afghanistan, in 2010-11.

Marcello lives in Grand Island with his wife and four children. He works as a Grand Island police officer. He has worked for the Grand Island Police Department for four years.

Marcello is still a member of the National Guard with the Alpha Troop 1-134th Cavalry out of Hastings. He has the rank of the first sergeant.

I have always been in the cavalry unit in the state, he said.

While attending high school in Blue Hill, Marcello said, he joined the National Guard when he was a junior.

I went to basic training in the summer between my junior year and senior years in high school, he said. I finished the second half the summer after my senior year before I went to college.

His motivation to join the National Guard was to help him attend college. He attended the University of Nebraska at Kearney, where he majored in criminal justice, with a psychology minor.

Marcello said he was motivated to pursue a career in law enforcement because of a DARE officer he knew when he was a high school student.

He was a pretty good guy, he said. He was a State Patrolman. I liked the way he did things and I always looked up to him. I knew I wanted to be a police officer.

After college, Marcello said, he held a number of odd jobs between deployments with the National Guard. I went overseas and then would come back and get a job, he said.

In between deployments, Marcello applied to join various law enforcement departments in the state. But because his unit was repeatedly deployed, it made it hard for him to secure a job in law enforcement.

It would be hard to hire somebody if they know they would be leaving again, he said.

It was when he was living in Omaha that Marcello decided to apply for employment with the Grand Island Police Department.

A friend of mine, who I was in the Army with, applied over here (Grand Island) and got hired, Marcello said. He told me to try it out. I did and I got hired.

When he is not working as a police officer or training with the National Guard, Marcello is the troop leader for his sons Cub Scout Troop 114 in Grand Island. We just got finished with summer camp, he said.

Marcello and his wife, Tami, have two sons and two daughters who range from 2 to 9 years old.

Marcello is a night patrol officer with the Police Department. He said night patrol is challenging, but he has learned to shut it off, go home and be with my family.

For Marcello whether its serving in the National Guard or working as a police officer its all about serving the people.

I know that sounds cliche or corny, but when you go home after a hard days work, you actually did something, he said. You made a difference.

Even though police work sometimes is not the most friendly of environments when dealing with the public, Marcello said there is always going to be that one person who you helped out. That is important for me.

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Iraq vet to lead fair parade - Grand Island Independent

Saudi Arabia's King Salman bin Abdul-Aziz Al Saud (R) talks with Iraqi Prime Minister Haider al-Abadi in Jeddah, Saudi Arabia, June 19, 2017.(photo byBandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS)

Author:Ali Mamouri Posted August 18, 2017

Picturesdisplaying Iran's Quds Force commander Gen.Qasem Soleimaniduring the battles with the Islamic Statestopped circulatingonline withthe military phase thatended inthe liberation of Mosul. The Iranian presence and support for the Iraqi forces were absent in the liberation battles.

TranslatorPascale Menassa

Simultaneously, Iraqi officials visited Saudi Arabia and Arab Sunni states that cheer for the Saudi axis. Sadrist leader Muqtada al-Sadr visited the United Arab Emirates (UAE) on Aug. 13-15, with clerics and politicians welcoming him as an Iraqi leader. Prominent Sunni Iraqi cleric Ahmed al-Kubaisi and leading politiciansmet withSadr during his visit to the UAE. This wasonly a few days after hisvisit at the end of Julyto Saudi Arabia, where Crown Prince Mohammed bin Salman and other officials had welcomed him.

In the wake of the visit, Saudi Arabiatook various measures in favor of Iraq, such asannouncing the opening of a Saudi Consulate in Najaf, where Sadr lives. Iraqs most seniorShiite cleric, Grand Ayatollah Ali al-Sistani, did not object to this proposition, asin the past he had called for openness in relations.

For its part, Iran strongly criticized Sadrs visit to Saudi Arabia and the UAE. Tasnim website, which is close to Supreme Leader Ayatollah Ali Khamenei, considered the visit a betrayal of the Yemeni people who have been fighting the Saudis for more than a year. Tasnim also accused Saudi Arabia of taking advantage of the Sadrist movement and seeking influence gateways in Iraq.

Sadrs upcoming visit to Egypt was also announced, in addition to a series of visits by prominent Iraqi officials includingthe prime minister andtheministers of interior,foreign affairs,oiland transportation to Saudi Arabia.Iran, Saudi Arabias regional enemy, did not receive such high-level visits.

Iraqi Prime Minister Haider al-Abadi has been increasingly criticizing the pro-Iran military factions and accused them of violating the law and refusing to obey the Iraqi state. The authorities affiliated with Iran have a bad reputation for being implicated in corruption issues and loss of national public interest in Iraq, especially following the second term of former Iraqi Prime Minister Nouri al-Maliki who has good relations with the Iranian regime and Iran'ssupreme leader.Adding insult to injury was the departure to Iran of Basra's Gov.Majid al-Nasrawi, after the transparency committee accused him of several corruption offences. This gavethe impression that Iran is sheltering those involved incorruption.

Iran is trying to control the situation and preserve its gains in Iraq through its deputies and through bilateral agreements serving its national interests. Iran signed a security agreement with Iraqi Minister of Defense Arfan al-Hayali during his visit July 23. The agreement seemed to have beensigned in a rush, which is uncommon in diplomacy; there were no preliminary talks between experts of both countries, thus indicating Irans urgency in cementing its military and security role in Iraq as a reaction to the Iraqi rapprochement with the Arab Sunni axis.

The official Iranian agency, IRNA, reported thatduring his meeting with Secretary of the Supreme National Security Council Ali Shamkhani, Hayali said, The Iraqi army will fight and will neither allow strife anew nor illegal measures to divide Iraq.

As a result, relations between Iraqi Kurdistan and Baghdad tensed up because it was understood that Hayali was threateningthe Kurdish region withmilitary actionin case of a secession referendum.

Hayali deniedthe statements and blamed IRNA offalse reporting.

Saudi Arabia is also trying to offer Iraq aid to outdoIran and win Iraq over pragmatically, regardless of the sectarian disputes.

On Aug. 15, Iraqi Minister of Oil Jabbar al-Luaibi announcedin the wake of his return from Saudi Arabia, The deputy of the Saudi king emphasized the importance of expediting the activation of the Saudi-Iraqi coordination committee to implement agreements in the fields of oil, energy, industry, minerals, technology, investment, agriculture, trade exchange, banks and joint projects.

The Saudi Cabinetannounced Aug. 14 the formation of the coordinationcommittee to implement what was agreed upon during the visits of Iraqi officials in the past weeks.

Luaibi said, Saudi Arabia will put in place several health care and humanitarian projects at its own expense. The kingdom will build a hospital in Baghdad and Basra and will allocate fellowships [for Iraqi students] toSaudi universities. It will also open border crossings and establish free trade areas.

If Saudi Arabia succeeds in implementing its economic projects in Iraq, it will tip the balance of power in its favor, as opposed to Iran that has failed since 2003 to execute huge economic projects in Iraq, whether directly or through the Shiite parties supporting it.

The new Saudi strategy shows soft and positive power in its competition with Iran in Iraq, as opposed to its previous tacticsof isolating Iraq politically and denying the new political reality post-2003. Saudi Arabias past policieshave benefitted Iran to a large extent and allowed the latter to spread its influence on all levels in Iraq.

Read More: http://www.al-monitor.com/pulse/originals/2017/08/iran-iraq-saudi-arab-sunni-shiite.html

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Saudi Arabia engages Iraq at Iran's dismay - Al-Monitor